Factors of production - SS1 Commerce Past Questions and Answers - page 1
1
Which factor of production refers to natural resources?
A
Land
B
Labor
C
Capital
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2
Which factor of production represents human effort?
A
Land
B
Labor
C
Capital
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3
What does capital refer to in the factors of production?
A
Natural resources
B
Human effort
C
Man-made resources
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4
Who takes the initiative to organize the factors of production and run a business?
A
Entrepreneur
B
Labor
C
Capital
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5
Which factor of production involves the risks and decision-making for production?
A
Entrepreneur
B
Capital
C
Labor
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6
What encompasses labour as a factor of production?
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7
Who takes on risks and makes decisions in the production process?
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